China launches up to US$885 million green bond sale, term sheet shows

China has launched a sale of up to 6 billion yuan (US$885.1 million) in three-year and five-year yuan-denominated green bonds in Hong Kong, according to a term sheet and note seen by Reuters on Thursday.

Here are more details:

• Initial price guidance was set around 1.85 percent for the three-year bond and around 2.00 percent for the five-year bond.
• The proceeds will be used to fund or refinance green spending from China’s fiscal budget under its sovereign green bond framework.
• The bonds are expected to price as early as Thursday and settle on June 4.
• Bank of China, Bank of Communications, Barclays, China International Capital Corp., CITIC Securities, Credit Agricole CIB, HSBC, ICBC, and Standard Chartered are acting as joint lead managers and joint bookrunners.

Reuters

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